Egypt’s Trade and Industry Minister Neivin Gamea met on Tuesday with a delegation from Mercedes-Benz Egypt led by the company’s Chairman and CEO Gerd Bitterlich to discuss the location of the car industry electricity in Egypt.
A ministry statement said the meeting also discussed the company’s current and future plans in the Egyptian market.
Gamea said the ministry is keen to encourage foreign investment operating in Egypt and the growth of its business in light of the favorable business environment that Egypt currently enjoys, as well as the measures taken by the state to improve the investment climate and locate his automobile. industry.
She assured the government’s readiness to overcome all obstacles faced by investors, which would help make Egypt a focal point for foreign investment and increase the flow of exports to foreign markets.
Gamea added that Egyptian political leaders are paying great attention to boosting the localization of the automotive industry and the industries that feed it locally, in order to achieve the greatest possible proportion of local manufacturing and production.
The Egyptian market has all the ingredients that qualify it to become a major car manufacturing hub in the Middle East and Africa, she added.
Bitterlich confirmed that the company supports the Egyptian government’s directions towards the localization of the automotive industry and sees Egypt as a promising market and an important hub in the Middle East for the manufacture of Mercedes-Benz cars.
The company has seen strong growth in the Egyptian market in recent years, he noted, with its logistics center being completed in the Suez Canal Economic Zone covering an area of 20,000 meters.
“The company has also increased its number of agents in the Egyptian market to 5 authorized distributors, including 12 sales and after-sales showrooms across the country, in addition to local manufacturing of GLE SUVs and GLS, which reflects the international company’s interest in expanding its business in the Egyptian market during the current phase,” he added.